RICHEN(SH:603755)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was RMB 263,276,257.14, a decrease of 7.83% compared to RMB 285,653,542.82 in 2019[20]. - The net profit attributable to shareholders of the listed company was RMB 81,250,497.71, down 4.72% from RMB 85,272,803.47 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was RMB 76,697,226.64, a decrease of 6.47% compared to RMB 82,003,412.09 in 2019[20]. - The cash flow from operating activities was RMB 68,897,231.15, down 16.38% from RMB 82,395,198.50 in the previous year[20]. - Basic earnings per share decreased by 21.15% to CNY 0.82 in 2020 from CNY 1.04 in 2019[22]. - Diluted earnings per share also decreased by 21.15% to CNY 0.82 in 2020 from CNY 1.04 in 2019[22]. - The weighted average return on equity dropped to 13.75% in 2020 from 26.47% in 2019, a decrease of 12.72 percentage points[22]. - The gross profit margin for the food manufacturing sector was 46.89%, a decrease of 3.33 percentage points compared to the previous year, primarily due to the adjustment of freight costs to operating costs[50]. - The company reported a total revenue of ¥263,158,214.54, with a gross margin of 46.89%, reflecting a decrease of 7.85% year-over-year[75]. - The company reported a total comprehensive income for 2020 of RMB 81,250,497.71, compared to RMB 85,272,803.47 in 2019, indicating a decline of 4.0%[189]. Assets and Liabilities - Total assets at the end of 2020 were RMB 711,492,033.40, an increase of 12.67% from RMB 631,482,574.24 at the end of 2019[21]. - The net assets attributable to shareholders of the listed company were RMB 608,974,555.90, an increase of 4.64% from RMB 581,961,582.74 at the end of 2019[21]. - Total liabilities increased to RMB 102,517,477.50 from RMB 49,520,991.50, representing a significant rise of approximately 106.5%[178]. - Non-current liabilities totaled RMB 45,744,643.64, up from RMB 785,600.29, indicating a substantial increase of approximately 5820%[178]. - Shareholders' equity reached RMB 608,974,555.90, compared to RMB 581,961,582.74 in 2019, reflecting a slight increase of about 4.6%[178]. Cash Flow - The company reported a cash flow from operating activities of CNY -4,353,309.79 in 2020, indicating a cash outflow[25]. - The net cash flow from operating activities was 68,897,231.15 CNY, down 16.38% compared to the previous year[66]. - The net cash flow from investment activities was CNY -106.85 million, a change of 71.43% compared to the previous year, primarily due to increased fixed asset investments[46]. - The total cash and cash equivalents decreased by 47,185,596.11 CNY, a decline of 1,121.67% compared to the previous year[67]. - The total cash inflow from investment activities in 2020 was ¥1,132,362,302.93, significantly up from ¥191,755,019.82 in 2019[196]. Revenue Sources - Revenue from food processing enterprise clients was 116.86 million yuan, a decline of 11.13% year-on-year[42]. - Revenue from restaurant enterprises was 101.15 million yuan, down 15.85% year-on-year[42]. - Revenue from supermarket clients increased by 109.53% year-on-year, reaching 23.20 million yuan[42]. - The sales revenue of sauce-type condiments decreased by 7.58% year-on-year, mainly due to reduced sales from restaurant clients impacted by the COVID-19 pandemic[52]. - The company experienced a 39.86% year-on-year decline in sales revenue for food additives, attributed to decreased export orders from food processing clients due to the pandemic[52]. Research and Development - The company has a dedicated R&D team focusing on product and process innovation, with multiple specialized departments[35]. - The total R&D investment was 9,540,069.83 CNY, which accounted for 3.62% of the annual operating revenue[64]. - Research and development expenses for 2020 were CNY 9,540,069.83, slightly down from CNY 9,612,502.30 in 2019[184]. - The company has established a professional R&D team to focus on new product development and formula improvements, but faces challenges in market acceptance and promotion[90]. Market Position and Strategy - The company aims to become a leader in the compound seasoning industry in China, focusing on expanding its market share in food processing, catering, and retail sectors[85]. - The company plans to enhance its marketing network and establish regional marketing experience centers to improve service quality and expand sales[86]. - Future investments will focus on technology research and product innovation to maintain competitive advantages in the compound seasoning market[86]. - The company has a strong market position in the customized compound seasoning business, but it anticipates increased competition as more companies enter the market[90]. Corporate Governance and Compliance - The independent auditor issued a standard unqualified opinion on the financial statements, confirming they fairly reflect the company's financial position[164]. - There were no significant deficiencies in internal control reported during the year[161]. - The company has not faced any penalties from securities regulatory authorities in the past three years[148]. - The company adheres to legal requirements for corporate governance, ensuring clear responsibilities for the shareholders' meeting and board of directors[154]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 3,966, a decrease from 4,174 at the end of the previous month[128]. - The top ten shareholders hold a total of 55,465,261 shares, representing 56.24% of the total shares, with 3,868,581 shares pledged[130]. - The company has not issued any new securities during the reporting period[127]. - The company has not reported any changes in related party transactions during the reporting period[108]. Social Responsibility and Environmental Impact - The company has established a quality policy of "product safety, quality first, customer-oriented, continuous improvement" and aims for "zero quality safety incidents" in its operations[115]. - The company has been recognized as an A-level taxpayer in Jimo City for several consecutive years, reflecting its commitment to tax compliance and social responsibility[116]. - The company actively engages in public welfare activities, including donations and support for local construction and poverty alleviation efforts[116]. - The company has implemented a comprehensive environmental monitoring system and has made efforts to improve its environmental management practices[117].